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    deposit accepting by the company from Director and members

    Posted By : damini / Published on : 10-Jan-2020 06:47 AM / View : 528 / Comment : 0

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    If the deposit accepting by the company from Director and members is less than 35% and the company satisfying the condition as mentioned in the exemption notification dated 13th June 2017.(Notification is attached for your reference) then Chapter V Clauses (a) to (e) of sub section (2) of Section 71 shall not apply to the private company.

    So if the conditions has fulfilled then company needs to pass only ordinary resolution and file with MGT-14 only, no need to issue a circular and file in GNL-2...
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